AXS Accsys Technologies Plc

 

TIDMAXS 
 
RNS Number : 4492O 
Accsys Technologies PLC 
30 June 2010 
 

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| Regulatory Announcement                                                        | 
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|                                                                                | 
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| Company     Accsys Technologies                                                | 
| PLC                                                                            | 
| TIDM        AXS                                                                | 
| Headline                                                                       | 
| Released    30 June 2010                                                       | 
| Number                                                                         | 
|                                                                                | 
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30 June 2010 
                                                                        AIM: AXS 
                                                    NYSE Euronext Amsterdam: AXS 
 
                            ACCSYS TECHNOLOGIES PLC 
                          (the "Company" or "Accsys") 
 
                                  Diamond Wood 
                             Annual General Meeting 
 
Further to previous announcements, Diamond Wood China Limited ("Diamond Wood"), 
the Company's licensee in China, held its Annual General Meeting ("AGM") on 29 
June 2010. 
 
Following Accsys's attendance at that AGM, the Board of Accsys is pleased to 
report that: 
 
1.  Diamond Wood has confirmed that it is in advanced discussions with two 
independent parties who have each expressed an interest in investing sufficient 
funds to enable the construction of the first Accoya  wood manufacturing 
facility in Nanjing, China (the "Fundraising"); 
 
2.  Diamond Wood has confirmed that it is in receipt of an acceptable signed 
term sheet in respect of the Fundraising from one of these parties, whilst term 
sheet discussions are on-going with the other party; 
 
3.  Diamond Wood has confirmed that both parties have now completed their 
commercial due diligence relating to the Fundraising; and 
 
4.  Accsys has supported resolutions tabled by Diamond Wood to allow the 
Fundraising to complete. All such resolutions in respect of the Fundraising were 
unanimously approved by Diamond Wood's shareholders at the AGM. 
 
Accsys is delighted with Diamond Wood's progress on the Fundraising and looks 
forward to further positive news and completion of the Fundraising in the near 
future. 
 
 
Ends 
 
 
 
 
 
For further information, please contact: 
+---------------------+-------------------------------------+--------------------+ 
| Accsys Technologies | Paul Clegg, Chief                   |  +44 20 8150 8835  | 
| PLC                 | Executive Officer                   |  +31 26  366  1408 | 
|                     | Hans Pauli, Chief                   |                    | 
|                     | Financial Officer                   |                    | 
|                     |                                     |                    | 
+---------------------+-------------------------------------+--------------------+ 
| Matrix Corporate    | Stephen Mischler                    | +44 20 3206 7000   | 
| Capital LLP         | Anu Tayal                           |                    | 
|                     |                                     |                    | 
| Threadneedle        | Graham Herring                      | +44 20 7653 9850   | 
| Communications      | Josh Royston                        |                    | 
|                     | graham.herring@threadneedlepr.co.uk |                    | 
|                     | josh.royston@threadneedlepr.co.uk   |                    | 
+---------------------+-------------------------------------+--------------------+ 
|                     |                                     |                    | 
+---------------------+-------------------------------------+--------------------+ 
| Citigate First      | Wouter van de Putte                 |  + 31 20 575       | 
| Financial B.V.      | Menno Delken                        | 4080               | 
+---------------------+-------------------------------------+--------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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